It looks like LTC skipped last grow impulses on altcoins market, not sure what is the reason for that but in my opinion, LTC presents the highest usability potential among mainstream cryptos (low payment fee, transaction speed, stability).
After a dramatical collapse in mid-September, LTC chart builds symmetrical triangle on the daily chart (excluding pin shadows). Volume is rising slightly. If that holds above 64.5 USD for the next 24 hours I would treat that as a bullish signal and expect dynamical growth on the price soon.
My targets would be:
Target 1: 70 USD last upper pin shadow (not going to sell her but this could be an action price to move stops upwards)
Target 2: 83 USD as the top of the last B wave
Target 3: 88 USD 0.618 Fib extension of corrective wave
Start:
64.5 USD if the level holds
Stop:
56 USD the lower bounds of the triangle
What can go wrong - potentially everything, mostly BTC can go down in C correction wave wreaking havoc among all cryptocurrencies markets.
This is a risky trade, as most of the trades in cryptomarket.
After a dramatical collapse in mid-September, LTC chart builds symmetrical triangle on the daily chart (excluding pin shadows). Volume is rising slightly. If that holds above 64.5 USD for the next 24 hours I would treat that as a bullish signal and expect dynamical growth on the price soon.
My targets would be:
Target 1: 70 USD last upper pin shadow (not going to sell her but this could be an action price to move stops upwards)
Target 2: 83 USD as the top of the last B wave
Target 3: 88 USD 0.618 Fib extension of corrective wave
Start:
64.5 USD if the level holds
Stop:
56 USD the lower bounds of the triangle
What can go wrong - potentially everything, mostly BTC can go down in C correction wave wreaking havoc among all cryptocurrencies markets.
This is a risky trade, as most of the trades in cryptomarket.
Comment:
Well, not today good night ;)
Trade active:
Starting area penetrated.
I think that is it what is what we were waiting for.
On the level 70 USD move will be confirmed.
I hope today that will hold.
I think that is it what is what we were waiting for.
On the level 70 USD move will be confirmed.
I hope today that will hold.
